ZEGA Investments LLC Takes $889,000 Position in Live Nation Entertainment, Inc. $LYV

ZEGA Investments LLC acquired a new position in Live Nation Entertainment, Inc. (NYSE:LYV) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 5,439 shares of the company’s stock, valued at approximately $889,000.

Other large investors have also bought and sold shares of the company. Seven Grand Managers LLC acquired a new stake in shares of Live Nation Entertainment in the 2nd quarter valued at about $22,692,000. Signaturefd LLC lifted its holdings in shares of Live Nation Entertainment by 25.3% in the 2nd quarter. Signaturefd LLC now owns 1,342 shares of the company’s stock worth $203,000 after purchasing an additional 271 shares in the last quarter. L2 Asset Management LLC grew its position in Live Nation Entertainment by 224.9% in the 2nd quarter. L2 Asset Management LLC now owns 20,549 shares of the company’s stock valued at $3,109,000 after purchasing an additional 14,224 shares during the period. WT Wealth Management acquired a new position in Live Nation Entertainment during the third quarter worth $1,753,000. Finally, Osaic Holdings Inc. lifted its stake in shares of Live Nation Entertainment by 44.0% in the second quarter. Osaic Holdings Inc. now owns 23,966 shares of the company’s stock valued at $3,407,000 after buying an additional 7,322 shares in the last quarter. 74.52% of the stock is owned by institutional investors.

Live Nation Entertainment Trading Up 1.9%

NYSE LYV opened at $148.88 on Tuesday. The business’s fifty day moving average is $139.12 and its 200-day moving average is $150.54. The company has a debt-to-equity ratio of 5.41, a current ratio of 0.92 and a quick ratio of 0.92. The stock has a market capitalization of $34.95 billion, a price-to-earnings ratio of 107.89, a PEG ratio of 9.34 and a beta of 1.20. Live Nation Entertainment, Inc. has a one year low of $112.88 and a one year high of $175.25.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.73 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.54 by ($0.81). The company had revenue of $8.50 billion for the quarter, compared to analysts’ expectations of $8.87 billion. Live Nation Entertainment had a return on equity of 97.90% and a net margin of 3.66%.The business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business posted $1.66 EPS. Equities research analysts predict that Live Nation Entertainment, Inc. will post 2.38 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on LYV shares. Roth Capital lowered their target price on shares of Live Nation Entertainment from $180.00 to $176.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Benchmark reissued a “buy” rating on shares of Live Nation Entertainment in a research note on Tuesday, November 4th. The Goldman Sachs Group lifted their target price on Live Nation Entertainment from $160.00 to $165.00 and gave the company a “sell” rating in a research report on Friday, January 2nd. Citigroup lowered their price target on Live Nation Entertainment from $195.00 to $181.00 and set a “buy” rating for the company in a research report on Thursday, October 23rd. Finally, Guggenheim dropped their price objective on Live Nation Entertainment from $175.00 to $172.00 and set a “buy” rating on the stock in a research note on Tuesday, November 18th. Eighteen investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $173.33.

Live Nation Entertainment Company Profile

Live Nation Entertainment is a global live entertainment company that promotes, operates and sells tickets for live events. The company’s core activities include concert promotion and production, venue operations and management, ticketing services through its Ticketmaster platform, artist management and development, and sponsorship and advertising services tied to live events. These integrated businesses are designed to connect artists, fans and commercial partners across the live event ecosystem.

The company in its current form was created following the 2010 merger of Live Nation and Ticketmaster, combining a promoter and venue operator with one of the industry’s largest ticketing platforms.